(PRWEB UK) 15 September 2012
The specialists at leading UK firm, Physical Gold, have responded to a 2.2% rise in gold prices, after the US’s central banking system announced it was planning to buy $40b in mortgage backed securities each month for an infinite amount of time. It also said it would maintain its easy monetary policies after the economy begins to recover.
The price of gold was pushed to a seven month high of $1772.10 an ounce following the announcement, with investors viewing the Federal Reserve’s statement and a signal the bank is willing to significantly weaken the US dollar to revive the economy.
James Cardier, president of commodities broker Liberty Trading Group, told CNN Money: "The U.S. is going to be printing money at an even faster pace than in Europe, I'm not a gold bug, but this is clearly an attempt to weaken the currency."
"Gold became a currency this afternoon.”
Leading UK gold dealers, Physical Gold, have expressed their interest in these latest gold developments citing them as an example of why investing in physical gold is a hedge against currency depreciation.
A spokesperson for the company said: “This latest rise in gold prices is a great example of why it is a good decision to buy gold bullion coins as a safe investment against the economic downturn. With gold prices often prone to rising, adding bullion to your portfolio can prove a sound decision.”
Physical Gold is continuing to watch these latest gold developments with interest.
Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.